LAKE PLACID, N.Y., Aug. 14, 2021 /PRNewswire/ -- With the
successful conclusion of its live, no-reserve auction on
July 16th for the
Paradise Peninsula camp on Big Tupper Lake, luxury real
estate auction house Platinum Luxury Auctions has now registered
four consecutive sales in upstate New
York's Adirondacks region. The area - known for its natural
beauty and its collection of recreational lakes such as
Lake Placid and Saranac Lake - is also home to many,
multimillion-dollar lakefront estates and compounds (or "camps,"
per the nomenclature in the region).
Platinum Luxury Auctions Posts 4th Consecutive Sale in Upstate NY's
Working in cooperation with broker of record Adirondack Premier Properties and listing
agent Jodi Gunther, Platinum
produced six bidders who registered for the sale, four of whom
attended the auction in person while two participated remotely and
in real-time via telephone.
Prior to the luxury auction, Paradise Peninsula had been on the
market for nearly 3 years, enjoying only 2 showings and failing to
generate any offers. The Franklin
County lakefront property entered the market at a price of
$3.2 million and was then reduced to
$2.85 million, still with no viable
suitors. "Jodi and her team actually did a terrific job giving the
property ample market exposure prior to luxury auction process,"
said Trayor Lesnock, Platinum's Founder and President. "We simply
needed to add the proper sense of urgency and date-certainty to
their existing formula." Lesnock added that Mrs. Gunther also
represented 2 bidders in the auction, which he called "an
exceptionally rare feat."
While the sales price will not be released until the transaction
has closed (scheduled for the week of August
16, according to the auction's terms of sale), the auction
firm reported that the sale landed within the predicted range. "The
sales price landed right at the high end of the price range that
was estimated 24 hours prior to the sale," added David Ashcroft, Platinum's Managing Director. He
also noted the buyer was a New Yorker who plans to build a larger
home on the property for his family.
Paradise Peninsula was affectionately given its name due to the
peninsular shape that comprises much of the property's
waterfrontage - a whopping 4,000 feet on the lake. Its 14
above-grade acres (not including another 23 acres of submerged
area) also includes two small, "private islands" located within a
short swim of the shoreline. Expansive lake vistas are afforded
throughout the property's grounds, which also feature gently
winding paths complete with various lookout clearings and firepit
The camp's living structures include a main residence with 5
beds and 3 baths in addition to a large basement and garage perfect
for a workshop or "man cave." There is also a 2-bed guest cabin and
In addition to this most recent sale, Platinum sold two
lakefront camps on nearby Upper Saranac Lake - one each in 2019 and
2020 - in addition to a camp on Upper St. Regis Lake, also in 2020.
The luxury auction firm will hope to increase its number of
consecutive sales in the Adirondacks market area to 5 with its
upcoming auction of Camp Limberlost this afternoon, August 14. Once asking $10.2 million, the 14-acre property on Upper St.
Regis Lake will also be sold without reserve. More details are
available at NewYorkLuxuryAuction.com, or by contacting Platinum's
offices at 800.262.5132.
About Platinum Luxury Auctions: Platinum Luxury
Auctions is responsible for developing the luxury auction®
concept and operating model for high-priced real estate auctions,
and owns the trademark rights to the term "luxury auction." The
firm specializes in the non-distressed sale of multimillion-dollar
properties on behalf of private owners. Platinum's team has closed
more than $1.05 billion in luxury
real estate auction sales to date, while consulting on more than
$2.65 billion in additional luxury
property assets worldwide.
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SOURCE Platinum Luxury Auctions LLC